HomeMy WebLinkAboutOrdinance 12834d
Ordinance No. U ~ /
AN ORDINANCE INCREASING THE ESTIMATED RECEIl'TS AND APPROPRIATIONS IN THE
CAPITAL PROJECTS RESERVE FUND IN THE AMOUNT OF $200,000 00 FROM INCREASED
REVENUE FOR THE PURPOSE OF FUNDING SECOND ANNUAL PAYMENTS FOR LOTS 2, 3,
AND 6B, BLOCK 2, HIRSCHFIELD ADDITION, PROVIDING FOR A SEVERABILITY CLAUSE,
MAKING THIS ORDINANCE CUMULATIVE OF PRIOR ORDINANCES AND REPEALING ALL
PRIOR ORDINANCES IN CONFLICT HEREWITH, AND PROVIDING AN EFFECTIVE DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS.
SECTION 1.
That in addition to those amounts allocated to the various City departments for the Fiscal Year 1996-97 and in the Budget
of the City Manager, there shall also be increased estimated receipts and appropriations in the Capital Projects Reserve
Fund in the amount of $200,000 00 from increased revenue for .the purpose of funding second annual payment for Lots 2,
3, and 6B, Block 2 Hirschfield Addition.
SECTION 2.
Should any portion, section or part of a section of this ordinance be declazed invalid, inoperative or void for any reason by
a court of competent jurisdiction, such decision, opinion or judgement shall in no way impair the remaining portions,
sections, or parts of sections of this ordinance, which said remaining provisions shall be and remain in full force and
effect.
SECTION 3
That this ordinance shall be cumulative of Ordinance No. 12629 and all other ordinances and appropriations amending
the same except in those instances where the provisions of this ordinance are in direct conflict with such other ordinances
and appropriations, in which instance said conflicting provisions of said prior ordinances and appropriations aze hereby
expressly repealed.
SECTION 4
This ordinance shall take effect and be in full force and effect and after the date of its passage, and it is so ordained.
APPROVED AS TO FORM AND LEGALITY
dLJ
Assistan Attorney
Date
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Adopted
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Effective
City of Fort Worth, Texas
Mayor and Councal Communication
DATE REFERENCE NUMBER LOG NAME PAGE
01 /21 /97 *'~G-11733 30HIRSC 1 of 2
svasECT APPROPRIATION ORDINANCE TO APPROPRIATE FUNDS FOR SECOND ANNUAL
PAYMENT FOR LOTS 2, 3 AND 6B, BLOCK 2, HIRSCHFIELD ADDITION (OLD LONE
STAR GAS BUILDING)
RECOMMENDATION
It is recommended that the City Council
1 Adopt the attached appropriations ordinance increasing estimated receipts and
appropriations in the Capital Projects Reserve Fund by 5200,000 00 from available
funds, and
2 Authorize the transfer of 5200,000 00 from the Capital Projects Reserve Fund to the
Specially Funded Capital Projects Funds, and
3 Adopt the attached appropriations ordinance increasing estimated receipts and
appropriations in the Specially Funded Capital Projects Fund by 5200,000 from
available funds
DISCUSSION
The City of Fort Worth entered into a purchase contract with the ENSERCH Corporation
for the purchase of Lots 2, 3 and 6B, Block 2, Hirschfield Addition on October 3, 1995
This action was approved through Mayor and Council Communication L-1 1628
The contract required 510,000 earnest money and a payment of 5191,007 56 was made
at the time of closing Three equal annual payments of 5200,000 bearing no interest on
the unpaid balance, are to be paid on or before November 30, of each year, beginning in
1996 The total purchase price of the property was 5800,000
The first annual payment to ENSERCH Corporation in the amount of 5200,000 is now
due
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City of Fort Worth, Texas
Mayor and Council Communication
DATE REFERENCE NUMBER LOG NAME PAGE
01 /21 /97 **G-11733 30HIRSC 2 of 2
SUBJECT APPROPRIATION ORDINANCE TO APPROPRIATE FUNDS FOR SECOND ANNUAL
PAYMENT FOR LOTS 2, 3 AND 6B, BLOCK 2, HIRSCHFIELD ADDITION (OLD LONE
STAR GAS BUILDING)
FISCAL INFORMATION/CERTIFICATION
The Director of Fiscal Services certifies that upon approval of the above recommendations
and adoption of the attached appropriation ordinances, funds required for this payment
will be available in the current capital budget, as appropriated, of the Specially Funded
Capital Projects Fund The cash balance in the Capital Projects Reserve Fund after this
transfer will be 57,589,544
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Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT , CITY SECRETARY
Office by: (to)
(2)GC35 472010 0300190 1000 200 00 00 ,,,~ PpROVED
Mike Groomer 6140 (3)GC35 472010,541250 030019001000 200 000 00 ~~
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Originating Department Head:
(1)GC10
472001
013010001000
200 000 00 ~~'
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A. Douglas Rademaker 6157 (from) ~~ ~~ ~`T't~
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(2)GC10 538070 01301000100 $200 000 00
For Additional Information ~l
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A. Douglas Rademaker 6157 '
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